It is no secret that the prevailing fuel crisis has created a social crisis, and that it is crippling vital sectors such as the transport sector. People spending hours, or sometimes days, at fuel stations, fighting with those waiting to purchase fuel and fuel station attendants, and cursing the Government for allowing a fuel crisis to arise in the country, have become common sights in today’s society.
One negative impact of these social changes triggered by the fuel crisis is people panic buying and stocking up on large quantities of fuel due to the fear of fuel shortages in the future.
Energy Ministry Secretary K.D.R. Olga recently cautioned about this development, and said that people’s fuel consumption patterns have changed drastically in the last few months, and that readapting to previous fuel consumption patterns could help manage the available fuel stocks without causing a shortage.
Last week, Ceylon Petroleum Corporation Chairman Sumith Wijesinghe also shared this sentiment. He claimed that people purchasing more fuel than they actually require and stocking up on fuel due to a fear of the shortage worsening are the main reasons for the congestion seen at fuel stations. What is more, Wijesinghe added that during the past few weeks, there was no fuel shortage of the magnitude alleged by some, and that instead, there has been a notable increase in the purchase of 92 Petrol and diesel, due to people collecting fuel.
Even though the extent to which the people’s tendency to purchase and stock up on additional fuel has affected the overall fuel crisis, or congestion at fuel stations, remains unclear, it is undeniable that it has had an effect. The Morning has come across taxi drivers, among others, who have collected fuel due to the fear of severe fuel shortages in the foreseeable future, and some of them are selling fuel for higher prices to earn some extra money.
However, despite the people’s fears being justifiable, this tendency has the potential to exacerbate the prevailing fuel crisis. When every person fears a worse fuel shortage and purchases more fuel, at the end of the day, even if each vehicle owner obtained one extra litre a day, it can easily affect the overall fuel supply and demand. Ironically, when people buy more fuel to face a fuel shortage, that act itself can create a shortage. One may argue that people should have the right to purchase any amount of fuel that they need. However, this is not a time when the Government or energy sector authorities can provide additional fuel, and that is also a reason that calls for the more disciplined sale and purchase of fuel.
One of the bitter consequences of this situation, which is highly likely, is shortages resulting in more black market fuel sellers, who exploit the situation to sell fuel at exorbitant prices. The existence of this issue has already been reported, and fuel station operators and owners hiding fuel to sell at higher prices is also not new news. Incidents of hoarding liquefied petroleum gas (LPG) are also quite common today.
We do not have adequate data to suggest that people purchasing more fuel than they need is the main or a considerable reason for the continuation of the fuel shortage, and we cannot ask people to limit their fuel consumption based on our beliefs. However, it is obvious that panic buying and stocking up on fuel can create a shortage that does not exist, or even worsen an existing shortage.
Assuming that panic buying significantly affects the prevailing fuel shortage, it can be noted that if this situation continues, both the people and the Government will be further inconvenienced. Therefore, instead of making statements to protect against people’s responses, the Government should actively raise awareness among the people about the availability and supply of fuel. The message that purchasing only the required amount of fuel is sufficient, should be conveyed to the people. That is not something that can be achieved by keeping a police officer at fuel stations to police the people. Instead, the Government must initiate a national-level awareness raising programme to convey this message, to ensure that people police themselves.
Panic-fuelled shortages
17 Mar 2022
Panic-fuelled shortages
17 Mar 2022
It is no secret that the prevailing fuel crisis has created a social crisis, and that it is crippling vital sectors such as the transport sector. People spending hours, or sometimes days, at fuel stations, fighting with those waiting to purchase fuel and fuel station attendants, and cursing the Government for allowing a fuel crisis to arise in the country, have become common sights in today’s society.
One negative impact of these social changes triggered by the fuel crisis is people panic buying and stocking up on large quantities of fuel due to the fear of fuel shortages in the future.
Energy Ministry Secretary K.D.R. Olga recently cautioned about this development, and said that people’s fuel consumption patterns have changed drastically in the last few months, and that readapting to previous fuel consumption patterns could help manage the available fuel stocks without causing a shortage.
Last week, Ceylon Petroleum Corporation Chairman Sumith Wijesinghe also shared this sentiment. He claimed that people purchasing more fuel than they actually require and stocking up on fuel due to a fear of the shortage worsening are the main reasons for the congestion seen at fuel stations. What is more, Wijesinghe added that during the past few weeks, there was no fuel shortage of the magnitude alleged by some, and that instead, there has been a notable increase in the purchase of 92 Petrol and diesel, due to people collecting fuel.
Even though the extent to which the people’s tendency to purchase and stock up on additional fuel has affected the overall fuel crisis, or congestion at fuel stations, remains unclear, it is undeniable that it has had an effect. The Morning has come across taxi drivers, among others, who have collected fuel due to the fear of severe fuel shortages in the foreseeable future, and some of them are selling fuel for higher prices to earn some extra money.
However, despite the people’s fears being justifiable, this tendency has the potential to exacerbate the prevailing fuel crisis. When every person fears a worse fuel shortage and purchases more fuel, at the end of the day, even if each vehicle owner obtained one extra litre a day, it can easily affect the overall fuel supply and demand. Ironically, when people buy more fuel to face a fuel shortage, that act itself can create a shortage. One may argue that people should have the right to purchase any amount of fuel that they need. However, this is not a time when the Government or energy sector authorities can provide additional fuel, and that is also a reason that calls for the more disciplined sale and purchase of fuel.
One of the bitter consequences of this situation, which is highly likely, is shortages resulting in more black market fuel sellers, who exploit the situation to sell fuel at exorbitant prices. The existence of this issue has already been reported, and fuel station operators and owners hiding fuel to sell at higher prices is also not new news. Incidents of hoarding liquefied petroleum gas (LPG) are also quite common today.
We do not have adequate data to suggest that people purchasing more fuel than they need is the main or a considerable reason for the continuation of the fuel shortage, and we cannot ask people to limit their fuel consumption based on our beliefs. However, it is obvious that panic buying and stocking up on fuel can create a shortage that does not exist, or even worsen an existing shortage.
Assuming that panic buying significantly affects the prevailing fuel shortage, it can be noted that if this situation continues, both the people and the Government will be further inconvenienced. Therefore, instead of making statements to protect against people’s responses, the Government should actively raise awareness among the people about the availability and supply of fuel. The message that purchasing only the required amount of fuel is sufficient, should be conveyed to the people. That is not something that can be achieved by keeping a police officer at fuel stations to police the people. Instead, the Government must initiate a national-level awareness raising programme to convey this message, to ensure that people police themselves.
Kapruka
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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!